First train with application of blockchain technology departs from China’s Chengdu to Lao capital Vientiane
A crane hoists a container at Chengdu International Railway Port in Chengdu, capital of southwest China's Sichuan Province, July 17, 2020. (Xinhua/Liu Kun)
A train loaded with goods such as bicycles, ceramic tiles and lamps was dispatched on Sunday from Chengdu, capital of Southwest China's Sichuan Province to Vientiane, capital of Laos.
It is worth noting that the train is first of its kind to apply blockchain technology to the international intermodal chain service.
Blockchain technology can greatly improve the overall efficiency of international transportation, as both consignors and consignees will immediately be informed upon the arrival of goods, said a manager with a logistic company.
Besides, blockchain technology can solve the problem of distrust in the international trade, said a person in charge of the digital finance department of China Railway Chengdu Bureau Group.
Blockchain is a specific type of database where all clients can share data yet no one can adjust or erase any exchange. It is therefore lauded for its safety, security and transparency, and has promising applications in facilitating trade.